Aztecsoft Limited vs Nil on 11 November, 2008

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Karnataka High Court

Aztecsoft Limited vs Nil on 11 November, 2008

Bench: B.V.Nagarathna

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IN THE HIGH COURT or KARNATAKA AT BANGBﬁ$ﬁE j&

DATED THIS THE 11" may 05 NovEﬁ§:ﬁ 2Qeé "'

BEFURE ;

THE HON'BLE MRs.JUsr1¢a_B V NRGARA$§NA

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KORAMAHGALA, BRNGALQREv95, KARNATAKA

REP BY I$s~HEAn"LEGAL & COPANY

SECRETARY MR RAJE$H"sRIcHAND NARANG
4; a 'v. ... APPLICANT

_  (ai*sé:_sAMrosH UKKUR FOR M/S.DUA ASSOCIATES,
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... RESPONDENT

V ' THIS CA IS FILED UNDER SECTION 391 OF THE * f COMPANIES ACT, 1956, PRAYING TO EKRECT THAT _ 3 _ . is also sought for seeking dispensation~of the h holding of the meeting*""ofo&ﬂthehiasecureéé creditors of the applicant ¥co$§an§}[*

2. The applicant ?company which is the*n transferor company e %ae iLiﬁ@$#pOrated on 4.10.1995 ;*cn§er;@ the *n§rovi§ians _ of the Companieef §ct;xni§ShhVae ia* private limited conzp.-.g.'hg}"'i' from 12. 6 . 2000, it becane.:iaV-:oﬁb1ic*:;limited company and thereafter,i it: 3156 sought a change in its hi«_naﬁ§ gtrom'x§ztec Software and Technology iﬁ Servicee- Limited to .Aztecsoft Limited and a fresh _ Certificate of Incorporation was '*,obtained on 25.8.2006. The registered office ' tot fthe applicant --company is in Bangalore. Vhwﬁi Recording to the applicant ~comany, it is a subsidiary of transferee company holding 79.9% 5/'=~

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the applicant ~company and on perusa; of Annexurewﬁ which is 23 certificate issuéﬂ by the Chartered Accountants of the aﬁ@ii$antV§~ company which is certified tg be a"t:ﬁét¢Qpy by the Company Secretary of the apﬁitéant % company that there are 30 Secured c§aditors,-t the meeting of the sacatadypraditarg of the applicant ~compaﬁ§ ia aigﬁaﬁaaa with.

6. ~§3_%at'aa tte;aaaéaﬁted creditors as well Haggwtﬁgyaaqattytlgﬂareholders of the apDIiCanttt¥@%ﬁD§#%",are concerned, it is directéﬂ that Q ggéﬁing of the said persons shaﬁi* be "caadu§ted separately for which, »:nege$$ar§=notices and advertisements shall be tetakfﬁ aut by the applicant --comany. &

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7. As far as the nmeting of« the shareholders is concerned, it is diregted that; . the same may" be conducted _on_ 22{12;2QG3v"atau" 10.00 a.m. at Woodlands 1'v:.;>t;='._>'1;' Mohan Roy Road, Richmond €;;cief:Banga1erer$6¢ G25 and as far as the meetiag>9f the anaecured creditors is concefaed; the éaﬁé.may be held on 22.12.2G08:"at :3';'o.<iL'¥ III A Cross, gﬂf. gain; t@iﬁ 4§iee£;v. Koramangala, Bangalomefﬁﬁcig?§;e"fﬁeta#?fieant ~company may hold 7,_1;ne' ? be chaired by Sri Krishnakumarvx"ﬁatatajan, Director of the ,_ appiﬂeant --e¢$ﬁang or in the alternative, Sri ttvS;R,GQ§a1aa;_9irector of the applicant, as the Cﬁairaaa cf tﬁe meeting of the shareholders of a the apﬁiieant --company.

/aﬂ 'Lbkv", -10- permitted to be represented §y a pre¥§ ﬁTh§; ~ﬂ chairman shall submit a repQ:t éf'£h§ ﬁ@ét@ﬁ@; within fifteen days aft¢;VtHe ¢onc;ﬁ3%Q§ @£V the meeting.

10. AccorQingly, coﬁh$ny* é§§1ication is allowe§\ %;\§gﬂ 7A x i mWf

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Karnataka High Court